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deduct (something) from (something)

To subtract something from something else. This phrase is commonly used with financial transactions. You can deduct all of your travel expenses from the corporate account.
See also: deduct

deduct (something) from (something else)

to subtract an amount from another amount. Are you going to deduct this from your income taxes? Mr. Wilson deducted the discount from the bill.
See also: deduct
References in periodicals archive ?
E[acute accent]If you own stock or bonds in a company that stopped doing business and has no intention of restarting operations, you can deduct your cost basis in the stock or bond.
In some cases, you might not be able to justify a complete write-off but can deduct at least a portion of the cost.
Likewise, in this case, the court held that Cinergy could deduct its costs since the asbestos removal and encapsulation fixed a problem that could have shortened the building's useful life.
One outstanding issue for taxpayers is whether a buyer should deduct or capitalize amounts it later pays on a liability in excess of the original amount capitalized.
The lower courts said the doctor could deduct the cost of the home, since he spent several hours a day there; therefore, it was essential to his business.
Taxpayers who seek to deduct interest paid on education loans must meet Sec.
5% level of AGI required to deduct medical expenses because they don't know what's eligible, Howell says.
This means that SMBs will still be able to deduct up to $100,000 toward the cost of new technologies and other office equipment," Morgan said.
This article discusses the circumstances under which (1) former business owners can deduct interest on these payments and (2) guarantors can take a bad debt deduction when required to pay the outstanding debt.
In a recent letter ruling, the IRS explained the circumstances under which companies may be able to currently deduct some ERP software costs.
Those who live in one of seven states without a state income tax may now deduct their state sales tax in tax years 2004 and 2005.
Clearly, taxpayers cannot deduct expenses paid on behalf of another on their individual returns.
IRC section 162(a) allows a taxpayer to deduct all ordinary and necessary expenses paid or incurred in "carrying on" a trade or business, including, under section 163(a), interest paid or accrued during the tax year.
Under the new rules, it is possible for dentists, lawyers, real estate agents, independent consultants, self-employed individuals and others to deduct more dollars into a defined benefit retirement plan.
For an S shareholder to deduct iris or her pro-rata share of S losses under Sec.